Auto insurer Geico has partnered with the technology firm Tractable Ltd. to use artificial intelligence (AI) to obtain accurate damage estimates from photos in an effort to speed up vehicle repairs.
Geico will run photographs of damaged vehicles through Tractable's AI software, where algorithms trained on millions of historical estimates and photos will assess the severity of the damage and confirm the repair estimate in a matter of minutes.
Insurance adjusters will manually review the damage and repairs with the auto body shop if the software identifies any issues with the estimate.
Industry consultants said the technology is most effective with photos of visible exterior damage, such as fender benders.
From The Wall Street Journal
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